Archives For Strategic Planning

Just as it is important for passengers to “Mind The Gap” to prevent injury, it is equally important for organizations to “Mind The Gap” so they do not fall into the traps that will keep them from moving forward – corporate culture in a global organization is extremely complex and fraught with many potential chasms. It is very interesting that people think differently, have different concepts of time, space, work, etc. – however, if we are not careful to appreciate and value the contributions and knowledge that people bring, it is easy fall onto the tracks dead center of an oncoming train! This may cause waning business results, the degradation of important relationships, the sacrifice of your own success, and ultimately – almost certain death! Because globalization continues to gather momentum, the interactions between people from differing geographies and cultures is frequent, and intensifies the complexities of organizational interactions. The more borders a company crosses, the greater the potential for misunderstanding and conflict amongst stakeholders, but also inherent is the potential for unimaginable reward. To succeed across both boundaries & borders, it is essential to break through the barriers of organizational culture and rigid patterns of thinking.

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This week, I am going back a bit to dive deeper into strategy – actually, the execution of strategy – because I was reminded, yet again, of how much time and effort companies spend in developing and refining corporate strategies. Most often, only to find themselves overwhelmed while struggling to translate strategy into an effective operational plan that will facilitate long-term success.

Frequently, organizations strain even more when it comes to prioritizing and executing these plans. I have lost count of the number of executives I have spoken with that firmly believed they had winning strategies, yet those strategies never delivered the game-changing results that the leadership team thought they would. Failure to deliver on strategy is a pervasive problem in business today – studies consistently show that 60 to 80 percent of companies fail to successfully implement and secure the success they anticipated in their strategic plans. The ability of a company to effectively execute strategy and achieve long-term adoption remains sporadic, at best. The fact remains – there is an enormous gap between strategy and execution.

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Virtual Success

June 1, 2022 — Leave a comment

Today, in many organizations, a significant amount of work is done virtually. Even in the most provincial of firms, it is rare to find all team members in a single location. Companies frequently choose people from across various global locations to work virtually in an effort to leverage expertise, as well as to save both time and money. With the advent of worldwide crises and events like global pandemics, the context of work is accelerating even more rapidly.

The structure of global business is moving away from traditional hierarchical multinational enterprises to more flexible international arrangements. It has been suggested that organizations will become more flexible, as well as learning and innovation-oriented, and will be realized through the expansion of global virtual teams (GVTs). These multicultural virtual teams provide diverse skill sets, and members’ diverse proficiencies can be leveraged to improve organizational outcomes. As a result, organizing work in GVTs has become the modus operandi. Team members are globally dispersed and heterogeneous across multiple dimensions. Global virtual teams span multiple countries, time zones, cultures, and languages – and they often rely on communication technology rather than face-to-face interaction. GVTs can be seen as catalysts for new forms of organizing, or perhaps even as organizational forms in themselves, changing traditional ideas about organizational boundaries.

The business justification for virtual teams is strong: they leverage expertise and vertical integration across the organization to make resources readily available, as well as increase the overall speed and agility of the organization. In addition, virtual teams draw talent quickly from various functions, locations and cultures. They reduce the disruption to people’s lives because travel becomes less of a necessity and team members can both broaden and deepen their perspectives (and their careers) by working across boundaries and borders on a variety of projects and tasks.

As a leader of virtual teams, your main goal should be to leverage your human capital to its utmost – as quickly as possible.  

Beware: How you choose to manage this process may be the difference between success and failure

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This past week, I found myself in Kings Canyon and Sequoia National Park. I went with the idea that I would relax and enjoy the long holiday weekend… and I did. However, as I observed a forest with both old and new growth, I also could not help notice the trees ravaged by sickness and fire. I found myself thinking about what the forest has to teach us about business…

The forest is a global entity made up of individual components with very different characteristics, yet at the same time each component is dependent upon the other.  In business, the term “Think Global/Act Local” was originally based on the idea of customizing standardized products and services for regional consumption in accordance with the local language, currency, culture and regulatory climate. The challenge arose as we lost sight of our interdependence as a global entity. Not surprisingly, localization encourages each country of operation to develop its own customized solutions and operational procedures. This results in data silos around the world and companies operating with huge information blind spots across the spectrum – the forest can not thrive as it should. It can take weeks, even months, to collect, reconcile, translate and analyze regional performance – much less consolidate a global view of the corporate picture. As I looked around and considered this, it occurred to me that if global is seeing the forest, then local is tending the trees. With only a view of the forest as a whole, it is possible to overlook the trees that need attention. Up close, it is easy to focus on the detailed care of each tree, but lose sight of its contribution to the overall forest. Balancing both viewpoints is critical to keeping the trees in the forest healthy. Global corporations are like a forest – a sum of its parts – consistent, meaningful and effective local practices must contribute to the success of the whole. Continue Reading…

Successful Strategy

November 9, 2017 — Leave a comment

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I was in a meeting with a senior executive recently, when he shared his concern that the processes and approaches the company is using to develop the corporate strategy may not take the business forward as planned, but backward. As we discussed his challenges, there were some key gaps that the organization was likely to fall into that could easily be avoided with a strong planning process. So, here are a few of the more prominent reasons organizations fall into the strategic planning gap…How many of these are evident in your business?

Reason Number 1: Lack of leadership engagement

One important reason behind a company’s inability to create a visible and viable strategy is that, frequently, key senior leaders are not appropriately engaged in the development process. This frequently means that critical success factors are not considered, priorities are unclear, and incomplete strategies are developed. Leaders must immerse themselves in the process to understand how the gears of the business engage – how their domain aligns to and fits with the other critical pieces within the corporation.  Critical insights and knowledgeable contributions regarding all aspects of the business will provide the pivot point for the strategic planning process – key decisions emerge from a compilation and understanding of leader’s perspectives. Companies often believe that strategic plans can be developed in one or two day strategic planning sessions – this is simply not true. Strategic planning is a dedicated process that is developed over a period of time with all senior leaders engaged and participating – not to mention, an ongoing process that drives the ability to stay ahead of the competition.  Without a strong process for engaging leaders and formulating strategic plans as a unit, companies often end up with plans that are meaningless from a strategic point of view.

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Innovation.   Integration.   Motivation.

Once again, three simple words…

However, each of these is extremely complex and rarely executed.

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In order to win the war for global domination, we must engage both our colleagues and our employees on three key battlefields: Innovation, Integration and Motivation. This week, we will address the second of these combat zones: Integration.

The rapid pace of change and the growing number of collaborative technology solutions has enabled virtual work while the demand for skills from around the world has made it a necessity. However, collaborative teamwork is not intuitive. It’s far more than dealing with technology and time zones – it is about people and the value that cross-cultural, cross-functional integration can bring to the organization. Continue Reading…